Chicago Family Business Attorney

Illinois Closely-Held Business Lawyer

Family businesses face unique legal, business and estate planning issues.  Family businesses are frequently small closely-held businesses dealing with typical business issues, such as employment and real estate matters, but under unique circumstances.  Owners of closely-held businesses are obviously concerned about keeping the business in the family, but they are also concerned about issues such as estate tax issues and respecting family members’ diverse strengths and interests (or disinterest) with regard to the business.  Moreover, each decision must be considered in light of any potential estate planning or business succession impacts of that decision.

The trusted Chicago family business lawyer Alan Sohn has years of experienced advising members of family business with respect to business succession and estate planning, real estate matters, employment issues, and other matters related to the facilitation of business decisions.  He understands that closely-held businesses are frequently managed by several members of the same family and that oftentimes it is difficult to separate business from family issues.  He is able to provide objective advice and counsel regarding a wide range of business issues, all with an eye toward the unique challenges and concerns of a business run by members of the same family.

The proper transfer of the business to other family members is often of utmost important to the owners of a closely-held family business.  There are often unique family relationships, however, that can make the process emotionally and legally challenging. The failure to plan for an orderly business succession can lead to disastrous and unintended monetary losses, as well as emotionally draining and damaging family and business disputes.    It is important to be proactive, upfront and open about the intended succession plan for a family business and the skilled Chicago family business attorney Alan Sohn can provide advice and counsel on how to manage the complex challenges that a family business faces and properly plan for business succession.   

In addition, typical business issues have a unique twist on them when they are faced by a family business.  For instance, family members often are employees of a family business, which can result in unique employment challenges. Real estate sales and purchases can involve complex tax issues depending on how the property is owned.   

Contact the knowledgeable Illinois business attorney Alan Sohn at (312) 236-7005 to schedule a free consultation to discuss the unique needs of your family business